Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 30, 2014
Mar. 31, 2013
Current assets:    
Cash and cash equivalents $ 560 $ 340
Accounts receivable (net of allowances of $718 at March 30, 2014 and $349 at March 31, 2013):    
Due from factor 20,800 21,431
Other 912 293
Inventories 13,607 10,930
Prepaid expenses 1,391 2,073
Deferred income taxes 799 160
Total current assets 38,069 35,227
Property, plant and equipment - at cost:    
Vehicles 193 193
Leasehold improvements 213 216
Machinery and equipment 2,671 2,656
Furniture and fixtures 738 743
Property, plant and equipment - gross 3,815 3,808
Less accumulated depreciation 3,229 3,070
Property, plant and equipment - net 586 738
Finite-lived intangible assets - at cost:    
Customer relationships 5,411 5,411
Other finite-lived intangible assets 7,613 7,643
Finite-lived intangible assets - gross 13,024 13,054
Less accumulated amortization 7,776 7,064
Finite-lived intangible assets - net 5,248 5,990
Goodwill 1,126 1,126
Deferred income taxes 1,109 1,005
Other 77 77
Total Assets 46,215 44,163
Current liabilities:    
Accounts payable 5,066 7,376
Accrued wages and benefits 2,426 1,375
Accrued royalties 1,139 971
Dividends payable 789 786
Income taxes currently payable 787 710
Other accrued liabilities 91 133
Total current liabilities 10,298 11,351
Commitments and contingencies      
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at March 30, 2014 and March 31, 2013; Issued 11,794,070 shares at March 30, 2014 and 11,696,022 shares at March 31, 2013 118 117
Additional paid-in capital 47,162 46,219
Treasury stock - at cost - 1,932,744 shares at March 30, 2014 and 1,868,003 shares at March 31, 2013 (8,147) (7,690)
Accumulated deficit (3,216) (5,834)
Total shareholders' equity 35,917 32,812
Total Liabilities and Shareholders' Equity $ 46,215 $ 44,163